Shopify COO Swipes at SEC Over Delayed Bitcoin ETF Approval

• Shopify’s COO criticized the SEC for taking so long before approving a Bitcoin ETF.
• Kaz Nejatian thinks the current system stifles honest innovation and turns a blind eye towards charlatans.
• Nejatian thinks the government ignored Sam Bankman-Fried for too long.

Shopify COO Kaz Nejatian has criticized the U.S. Securities and Exchange Commission (SEC) for taking so long before approving a Bitcoin ETF. According to Nejatian, the SEC took nearly a decade to approve a Bitcoin ETF while government leaders were palling around with Sam Bankman-Fried, the former CEO of FTX.

In a recent post on X, Nejatian noted that this is not how the government is supposed to work. He believes the current system stifles honest innovation and turns a blind eye to charlatans. The Shopify COO’s comments appeared after the SEC approved the first Bitcoin ETFs comprising 11 applications. Some of the recently approved ETFs include BlackRock (BLK.N), Ark Investments/21Shares (ABTC.S), Fidelity, Invesco (IVZ.N), and VanEck, according to reports, with most of the products expected to start trading immediately.

Nejatian believes the government and responsible agencies are supposed to be m…

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